European Commission owes 1 bn EU to Hungary?

Finance Minister Mihály Varga has said Hungary’s economy was expected to grow by 6.0-6.5 percent this year.

Early in November, the Finance Ministry lowered its projection for GDP growth this year to 6.8 percent. Hungarian growth slowed to an annual 6.1 percent in the third quarter. In the Q1-Q3 period, growth was 7.1 percent.

Varga told a general meeting of construction industry association ÉVOSZ on Thursday that Hungary’s construction sector was likely to grow by 10 percent this year. An expanding order stock signals further growth in the future, too, he added.

Read also: Government: liberal politicians want to punish Hungary

He said the European Commission

would owe Hungary 320-330 billion forints (EUR 872-900m) this year after sitting on the approval of Hungary’s Recovery and Resilience Facility (RRF) plan.

Talks are under way and “hopefully will conclude soon”, he added.

ÉVOSZ chairman László Koji said the performance of the construction industry returned to pre-crisis levels in September. This year, the sector’s output is expected to reach 5,000 billion forints, he added.

Read alsoBrussels should stop practices that result in the alienation of member states, says Minister Varga

Source: MTI

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1 Comment

The Truth says:

10/12/2021 at 10:42

This money is an gratia payment, a grant not a loan. Hungary is not and has never been a net contributor financially to the EU. Thus this money is not ‘owed’ to Hungary.